Heating oil price hits record for 4th week

**Tumbleweed** · Admin Thanks: 0 Thanked 0 Times in 0 Posts votes: 4

This makes me glad I heat with wood.

WASHINGTON (Reuters) - The U.S. average retail price for home heating oil soared 5.4 cents over the past week to a record $3.40 a gallon, the government said on Wednesday.

The national heating oil price was up 98 cents from a year ago, the U.S. Energy Information Administration said in its weekly survey of heating fuel costs around the country. It was the fourth week in a row that heating oil hit a record.

Heating oil prices are rising because of higher crude oil costs, which topped at a record above $100 a barrel last week, and tight supplies.

While distillate fuel inventories, which include heating oil and diesel fuel, increased by 1.5 million barrels last week, stocks are still down almost 15 million barrels from a year ago and are in the lower half of the average range for inventories at this time of year, according to the EIA.

Source:
http://news.yahoo.com/s/nm/20080109/u...GgvijThiM6NSs0NUE

**Coyote**

Tumbleweed wrote:

The U.S. average retail price for home heating oil soared 5.4 cents over the past week to a record $3.40 a gallon, the government said on Wednesday.

Man, I wish our heating oil were that cheap. That's about what it cost two years ago....